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Can't Afford Your Wedding? Paramus Financial Planner Has Simple Advice

Getting hitched in North Jersey? Get ready to empty your wallet. Photo Credit: The Royal Manor Facebook
CPF James Shagawat of Paramus. Photo Credit: James Shagawat

Love might be priceless -- but certainly not the wedding.

If you can't afford to get hitched right now, Paramus financial planner Jim Shagawat has simple advice: Extend the date.

Shagawat says it's more common lately to see parents help their children pay for the wedding fees, but it still ends up denting everyone's wallet, according to a New York Times article.

“A wedding is a depreciating asset,” Shagawat says in the story. “You don’t want a wedding to jeopardize your retirement or long-term success.”

The average cost of a wedding in North Jersey is $51,287 -- the third most expensive location in the U.S., according to a recent article in The Knot.

Crowdfunding is another route that people are more frequently opting for, particularly on sites like Newlywed Fund and Newlywish Fund.

Credit cards and loans are other options considered in the article.

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